Internet Gambling Regulation overview
The rate at which people engage in online casino gambling keeps increasing significantly. This is due to the availability of smartphones, easy access to an internet connection, and several perks that are associated with playing online games. Yet, it is only natural that such a popular activity will attract the attention of people with illicit agendas. In fact, there are many fake online casino websites out there. To protect gamblers from falling victim to several forms of scams that come with gambling, there are institutions that regulate gambling activities.
Furthermore, this institution audit, check and verify the authenticity of online gambling casinos before granting them license to operate. Once a prospective gambler visits an online casino. The seal of license on the website is the proof of authenticity of the casino, which means that gambling on such a website is safe and legal. You can know more by checking casino reviews, including bet365 casino review 2021.
The various licensing authorities across the globe
As discussed above, there is a great need for gambling activities to be regulated. Because of this, different jurisdictions have different authorities keeping their activities in check. Some of these are discussed below:
Alderney is an island that is located 8 miles off the coast of France. Gambling here is controlled by the Alderney Gambling Control Commission, which was established in the year 2000. Alderney is home to several high-profile gambling operators.
All casino operators applying for an e-gaming license must have an Alderney registered organization and must make known their intention to obtain a license from the Alderney Gazette. The applicant will then be asked to fill an application form on the commission’s website and return the form with a deposit of £10,000. After submission, there will be discussions and verification of the casino conducted by the commission’s chief inspector.
After then, the commission will sit to review the application. Once a license is granted and terms are set, the commission then reviews their activities from time to time. The licensed site would pay a sum of £35,000 for the first year of operation. However, the amount that will be paid in the subsequent years is determined by the net yield in the previous year.
All forms of gambling in Malta are regulated by the Malta Lottery and Gaming Authority under the Remote Gaming Regulation put in place in 2004. It is actually one of the prominent licensing authorities in the world. Its strict standard makes it one of the safest places to gamble. In reality, it is relatively easy to obtain, regardless of how strict their standard is.
Online casinos, poker rooms, sportsbooks and other online gambling platforms here are regulated by the Kahnawake Gaming Commission. It was established in 1996 and they host the site of every licensed online casino on a server in the territory. The commission also regulates land-based poker rooms, charity raffles, and other interactive gambling in the Mohawk territory of Kahnawake.
Gambling in the United Kingdom is legal and the institution that monitors its activities is the United Kingdom Gambling Commission, which was created by the Gambling Act of 2005. It regulates all kinds of gambling, bingo, and lotteries in the UK. The only aspect not within their authority is spread betting, which is controlled by Financial Conduct Authority.
The UK Gambling Commission is set up to ensure that the three objectives in the UK gambling act of 2005 are met. They make sure casino games are safe and fair, while providing protection for kids and vulnerable adults. They audit and verify prospective casino operators for license, grant the license, and ensure that the casinos are run in an efficient manner.
The existence of institutions does not only bring about order in the gambling world, it also secures the safety and well-being of gamblers. There are other top licensing authorities, which include:
- Antigua and Barbuda: regulated by the Antigua Directorate of Offshore Gaming Website.
- Curacao: regulated by Curacao e-Gaming Licensing Authority.
- Panama: regulated by the Panama Gaming Control Board
- France: regulated by the Regulatory Authority for Online Games (ARJEL)
- Hong Kong: Specific forms of gambling are legal if they are managed by the government-sponsored Hong Kong Jockey Club (HKJC).
Many of these institutions have had no issues maintaining order and fairness in their regions. Their license seal at casino sites can only give a form of assurance of safety and their influence will only motivate potential gamblers to play more.